The USDX
continues to strengthen the bullish trend above the support level of
88.44. The next hurdle for this instrument is the resistance level of
88.65. If the USDX manages to make a breakout in that area, it would
be expected to rise to the level of 89.40 where one
bullish trend line is on the H4 chart. The MACD indicator remains in
positive territory.

H4chart’s resistance
levels: 88.65 / 89.00

H4chart’s support
levels: 88.44 / 88.27

In the H1 chart, the USDX has gained
bullish momentum above 200 SMA, because this instrument is forming a
bullish pattern above the support level of 88.43. The USDX has
reached new high levels for several weeks, so it is very likely that
this instrument make a retracement to the support level of 88.43. The
MACD indicator is entering overbought area.

H1 chart’s resistance levels:
88.71 / 88.99

H1 chart’s support levels:
88.43 / 88.15

Trading recommendations for today:
Based on the H1 chart, place
buy (long)
orders only if the USD Index
breaks with
a bullish candlestick;
the resistance
level is at 88.71,
take profit is at
88.99,
and stop loss is at 88.43.